The NBA Players Association has rejected the owners' most recent collective bargaining proposal and will instead seek to disband the union, a move that likely jeopardizes the 2011-12 season.
The union, whose members have been locked out since July 1st, also plans to pursue an antitrust lawsuit against the NBA.
"We're prepared to file this antitrust action against the NBA," union executive director Billy Hunter said Monday, the 137th day of the lockout. "That's the best situation where players can get their due process."
Hunter said players were not prepared to accept NBA commissioner David Stern's ultimatum that it accept the deal or risk lesser offers in the future, saying they thought it was "extremely unfair."
Hunter said the union has negotiated in good faith over two years and feels that they have given enough, while the NBA was "not willing and prepared to negotiate."
"The players feel that they are not prepared to accept any ultimatums," Hunter said.
"Going forward, collective bargaining will not be how this process continues for us," added union president Derek Fisher. "We'll let our legal team really lead the charge."
"We continue to want to get to work, to get back to work, to negotiate, but that process has broken down," Fisher added.